2004 ADM Annual Report

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2004 ANNUAL REPORT The Essential Link As one of the world's largest agricultural processors, Archer Daniels Midland Company pr<a title="2004 ADM Annual Report page 1" href="http://viewer.zmags.com/publication/f842a33d?page=1">2004 ANNUAL REPORT</a> 2004 ANNUAL REPORT<a title="2004 ADM Annual Report page 2" href="http://viewer.zmags.com/publication/f842a33d?page=2">As one of the world's largest agricultural proces</a> As one of the world's largest agricultural proces<a title="2004 ADM Annual Report page 3" href="http://viewer.zmags.com/publication/f842a33d?page=3">FINANCIAL HIGHLIGHTS2004 </a> FINANCIAL HIGHLIGHTS2004 <a title="2004 ADM Annual Report page 4" href="http://viewer.zmags.com/publication/f842a33d?page=4">DEAR SHAREHOLDERS:This past year pr</a> DEAR SHAREHOLDERS:This past year pr<a title="2004 ADM Annual Report page 5" href="http://viewer.zmags.com/publication/f842a33d?page=5">our operating facilities and, as a result, experi</a> our operating facilities and, as a result, experi<a title="2004 ADM Annual Report page 6" href="http://viewer.zmags.com/publication/f842a33d?page=6">ADM–THE ESSENTIAL LINKUltimately,</a> ADM–THE ESSENTIAL LINKUltimately,<a title="2004 ADM Annual Report page 7" href="http://viewer.zmags.com/publication/f842a33d?page=7">ADM adds extra value to each </a> ADM adds extra value to each <a title="2004 ADM Annual Report page 8" href="http://viewer.zmags.com/publication/f842a33d?page=8">OILSEEDS PROCESSINGADM's advances i</a> OILSEEDS PROCESSINGADM's advances i<a title="2004 ADM Annual Report page 9" href="http://viewer.zmags.com/publication/f842a33d?page=9">Key Developments Continued expansion of market </a> Key Developments Continued expansion of market <a title="2004 ADM Annual Report page 10" href="http://viewer.zmags.com/publication/f842a33d?page=10">OILSEEDS PROCESSINGthe year, h</a> OILSEEDS PROCESSINGthe year, h<a title="2004 ADM Annual Report page 11" href="http://viewer.zmags.com/publication/f842a33d?page=11">As economies grow and wealthincreases, people se</a> As economies grow and wealthincreases, people se<a title="2004 ADM Annual Report page 12" href="http://viewer.zmags.com/publication/f842a33d?page=12">CORN PROCESSINGAs the world's large</a> CORN PROCESSINGAs the world's large<a title="2004 ADM Annual Report page 13" href="http://viewer.zmags.com/publication/f842a33d?page=13">Key Developments Sweetener market exhibits mode</a> Key Developments Sweetener market exhibits mode<a title="2004 ADM Annual Report page 14" href="http://viewer.zmags.com/publication/f842a33d?page=14">CORN PROCESSINGEthanol productio</a> CORN PROCESSINGEthanol productio<a title="2004 ADM Annual Report page 15" href="http://viewer.zmags.com/publication/f842a33d?page=15">American farmers fuel the energyneeds of drivers</a> American farmers fuel the energyneeds of drivers<a title="2004 ADM Annual Report page 16" href="http://viewer.zmags.com/publication/f842a33d?page=16">OTHER FOOD AND FEED INGREDIENTS</a> OTHER FOOD AND FEED INGREDIENTS<a title="2004 ADM Annual Report page 17" href="http://viewer.zmags.com/publication/f842a33d?page=17">Key Developments Cocoa revenue and profitabilit</a> Key Developments Cocoa revenue and profitabilit<a title="2004 ADM Annual Report page 18" href="http://viewer.zmags.com/publication/f842a33d?page=18">OTHER FOOD AND FEED INGREDIENTS</a> OTHER FOOD AND FEED INGREDIENTS<a title="2004 ADM Annual Report page 19" href="http://viewer.zmags.com/publication/f842a33d?page=19">Chocolate, the world'sfavorite flavor, is delive</a> Chocolate, the world'sfavorite flavor, is delive<a title="2004 ADM Annual Report page 20" href="http://viewer.zmags.com/publication/f842a33d?page=20">AGRICULTURAL SERVICESADM enhances </a> AGRICULTURAL SERVICESADM enhances <a title="2004 ADM Annual Report page 21" href="http://viewer.zmags.com/publication/f842a33d?page=21">Key Developments Continued consolidation of bot</a> Key Developments Continued consolidation of bot<a title="2004 ADM Annual Report page 22" href="http://viewer.zmags.com/publication/f842a33d?page=22">AGRICULTURAL SERVICESAt both end</a> AGRICULTURAL SERVICESAt both end<a title="2004 ADM Annual Report page 23" href="http://viewer.zmags.com/publication/f842a33d?page=23">Maximum service to farmers and customers req</a> Maximum service to farmers and customers req<a title="2004 ADM Annual Report page 24" href="http://viewer.zmags.com/publication/f842a33d?page=24">FINANCIAL TABLE OF CONTENTSManagement's</a> FINANCIAL TABLE OF CONTENTSManagement's<a title="2004 ADM Annual Report page 25" href="http://viewer.zmags.com/publication/f842a33d?page=25">MANAGEMENT'S DISCUSSION OFOPERATIONS AND </a> MANAGEMENT'S DISCUSSION OFOPERATIONS AND <a title="2004 ADM Annual Report page 26" href="http://viewer.zmags.com/publication/f842a33d?page=26">MANAGEMENT'S DISCUSSION OFOPERATIONS AND </a> MANAGEMENT'S DISCUSSION OFOPERATIONS AND <a title="2004 ADM Annual Report page 27" href="http://viewer.zmags.com/publication/f842a33d?page=27">Net sales and other operating income are as follo</a> Net sales and other operating income are as follo<a title="2004 ADM Annual Report page 28" href="http://viewer.zmags.com/publication/f842a33d?page=28">MANAGEMENT'S DISCUSSION OFOPERATIONS AND </a> MANAGEMENT'S DISCUSSION OFOPERATIONS AND <a title="2004 ADM Annual Report page 29" href="http://viewer.zmags.com/publication/f842a33d?page=29">Analysis of Statements of EarningsNet sales and </a> Analysis of Statements of EarningsNet sales and <a title="2004 ADM Annual Report page 30" href="http://viewer.zmags.com/publication/f842a33d?page=30">MANAGEMENT'S DISCUSSION OFOPERATIONS AND </a> MANAGEMENT'S DISCUSSION OFOPERATIONS AND <a title="2004 ADM Annual Report page 31" href="http://viewer.zmags.com/publication/f842a33d?page=31">Payments Due by PeriodContractual </a> Payments Due by PeriodContractual <a title="2004 ADM Annual Report page 32" href="http://viewer.zmags.com/publication/f842a33d?page=32">MANAGEMENT'S DISCUSSION OFOPERATIONS AND </a> MANAGEMENT'S DISCUSSION OFOPERATIONS AND <a title="2004 ADM Annual Report page 33" href="http://viewer.zmags.com/publication/f842a33d?page=33">Valuation of Marketable Securities and Investment</a> Valuation of Marketable Securities and Investment<a title="2004 ADM Annual Report page 34" href="http://viewer.zmags.com/publication/f842a33d?page=34">MANAGEMENT'S DISCUSSION OFOPERATIONS AND </a> MANAGEMENT'S DISCUSSION OFOPERATIONS AND <a title="2004 ADM Annual Report page 35" href="http://viewer.zmags.com/publication/f842a33d?page=35">SUMMARY OF SIGNIFICANTACCOUNTING POLICIES</a> SUMMARY OF SIGNIFICANTACCOUNTING POLICIES<a title="2004 ADM Annual Report page 36" href="http://viewer.zmags.com/publication/f842a33d?page=36">SUMMARY OF SIGNIFICANTACCOUNTING POLICIES </a> SUMMARY OF SIGNIFICANTACCOUNTING POLICIES <a title="2004 ADM Annual Report page 37" href="http://viewer.zmags.com/publication/f842a33d?page=37">CONSOLIDATED STATEMENTSOF EARNINGSYear En</a> CONSOLIDATED STATEMENTSOF EARNINGSYear En<a title="2004 ADM Annual Report page 38" href="http://viewer.zmags.com/publication/f842a33d?page=38">CONSOLIDATED BALANCE SHEETSJune 30ASSET</a> CONSOLIDATED BALANCE SHEETSJune 30ASSET<a title="2004 ADM Annual Report page 39" href="http://viewer.zmags.com/publication/f842a33d?page=39">LIABILITIES AND SHAREHOLDERS' EQUITYCurrent L</a> LIABILITIES AND SHAREHOLDERS' EQUITYCurrent L<a title="2004 ADM Annual Report page 40" href="http://viewer.zmags.com/publication/f842a33d?page=40">CONSOLIDATED STATEMENTSOF CASH FLOWSYea</a> CONSOLIDATED STATEMENTSOF CASH FLOWSYea<a title="2004 ADM Annual Report page 41" href="http://viewer.zmags.com/publication/f842a33d?page=41">CONSOLIDATED STATEMENTSOF SHAREHOLDERS' EQ</a> CONSOLIDATED STATEMENTSOF SHAREHOLDERS' EQ<a title="2004 ADM Annual Report page 42" href="http://viewer.zmags.com/publication/f842a33d?page=42">NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS</a> NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS<a title="2004 ADM Annual Report page 43" href="http://viewer.zmags.com/publication/f842a33d?page=43">The $10 million of unrealized losses at June 30, </a> The $10 million of unrealized losses at June 30, <a title="2004 ADM Annual Report page 44" href="http://viewer.zmags.com/publication/f842a33d?page=44">NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS </a> NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS <a title="2004 ADM Annual Report page 45" href="http://viewer.zmags.com/publication/f842a33d?page=45">Note 7-Shareholders' EquityThe Company has autho</a> Note 7-Shareholders' EquityThe Company has autho<a title="2004 ADM Annual Report page 46" href="http://viewer.zmags.com/publication/f842a33d?page=46">NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS </a> NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS <a title="2004 ADM Annual Report page 47" href="http://viewer.zmags.com/publication/f842a33d?page=47">Note 11-LeasesThe Company leases manufacturing a</a> Note 11-LeasesThe Company leases manufacturing a<a title="2004 ADM Annual Report page 48" href="http://viewer.zmags.com/publication/f842a33d?page=48">NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS</a> NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS<a title="2004 ADM Annual Report page 49" href="http://viewer.zmags.com/publication/f842a33d?page=49">Investment objectives for the Company's plan asse</a> Investment objectives for the Company's plan asse<a title="2004 ADM Annual Report page 50" href="http://viewer.zmags.com/publication/f842a33d?page=50">NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS </a> NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS <a title="2004 ADM Annual Report page 51" href="http://viewer.zmags.com/publication/f842a33d?page=51">Geographic Information: The following geographic </a> Geographic Information: The following geographic <a title="2004 ADM Annual Report page 52" href="http://viewer.zmags.com/publication/f842a33d?page=52">REPORT OFINDEPENDENT REGISTEREDPUBLIC ACC</a> REPORT OFINDEPENDENT REGISTEREDPUBLIC ACC<a title="2004 ADM Annual Report page 53" href="http://viewer.zmags.com/publication/f842a33d?page=53">QUARTERLYFiscal 2004 Net Sales . . . .</a> QUARTERLYFiscal 2004 Net Sales . . . .<a title="2004 ADM Annual Report page 54" href="http://viewer.zmags.com/publication/f842a33d?page=54">TEN YEAR SUMMARYOperating, Financial, an</a> TEN YEAR SUMMARYOperating, Financial, an<a title="2004 ADM Annual Report page 55" href="http://viewer.zmags.com/publication/f842a33d?page=55">2001 2000$19,483,211 $18</a> 2001 2000$19,483,211 $18<a title="2004 ADM Annual Report page 56" href="http://viewer.zmags.com/publication/f842a33d?page=56">DIRECTORSG. Allen Andreas </a> DIRECTORSG. Allen Andreas <a title="2004 ADM Annual Report page 57" href="http://viewer.zmags.com/publication/f842a33d?page=57">John K. Vanier </a> John K. Vanier <a title="2004 ADM Annual Report page 58" href="http://viewer.zmags.com/publication/f842a33d?page=58">CORPORATEG. Allen AndreasChairman andChief </a> CORPORATEG. Allen AndreasChairman andChief <a title="2004 ADM Annual Report page 59" href="http://viewer.zmags.com/publication/f842a33d?page=59">STOCKHOLDER INFORMATIONStock ExchangesAr</a> STOCKHOLDER INFORMATIONStock ExchangesAr<a title="2004 ADM Annual Report page 60" href="http://viewer.zmags.com/publication/f842a33d?page=60"></a>